City Of London
Fine Wine Ponzi Scheme Accused Facing US Extradition Over Fraud
- EX-CFO misrepresented existence and vintage of wine stock
- Andrew Fuller denies allegations of fraud and money laundering
A senior executive who’s accused of lying about the size and vintage of his firm’s fine wine collection and who duped investors out of at least $99 million is facing extradition to the US over the alleged Ponzi scheme.
The US wants the ex-chief financial officer of Bordeaux Cellars Ltd., Andrew Fuller, to face charges of fraud and money laundering. He allegedly flew, with firm founder Stephen Burton, to investor conferences in the US and other countries where they raised money making false claims about the wine, lawyers said in documents prepared for a London hearing.